Fixed Alpha
AAA

What do these ratings mean?

Credit ratings assigned by SEBI-registered agencies such as CRISIL, ICRA and CARE.

Sovereign BondsSOVEREIGN
These securities are the safest investments, backed by governments with a strong ability to meet financial obligations.
Highest SafetyAAA
Securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such securities carry lowest credit risk.
High SafetyAA+AAAA-
Securities with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such securities carry very low credit risk.
Adequate SafetyA+AA-
Securities with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk.
Moderate SafetyBBB+BBBBBB-
Securities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such securities carry moderate credit risk.
Moderate RiskBB+BBBB-
Securities with this rating are considered to have moderate risk of default regarding timely servicing of financial obligations.
Moderate High RiskB+BB-
Securities with this rating are considered to have high risk of default regarding timely servicing of financial obligations.
Very High RiskCCC+CCCCCC-CC+CCCC-C+CC-
Securities with this rating are considered to have very high risk of default regarding timely servicing of financial obligations.
DefaultD
Securities with this rating are in default or are expected to be in default soon.

National Highways Authority of India

INE906B07EJ8· Listed on NSE & BSE

5.61%

Yield

Tenure

4Y 3M 27D

Maturity Date

11 Jan 2031

Coupon Frequency

Annual

Face Value

₹1,000

Nature

Secured

Coupon Rate

7.60%

About the Issuer

NHAI was constituted under Section 3(1) of the National Highways Authority of India Act, 1988, and commenced operations in February 1995 to develop, maintain, and manage national highways across the country. It has been vested with executive powers for national highway development by the Ministry of Road Transport & Highways (MoRTH). As a government organization, NHAI operates under the complete ownership of the Government of India, receiving financial, operational, and policy support to carry out its road development initiatives. NHAI's mission is to meet the nation's need for provision and maintenance of national highway networks to world standards, within the strategic policy framework set by the GoI. The organization has a well-defined structure, managed by whole-time and part-time Board Members, with experienced full-time members individually overseeing finance, technical, and administrative functions. NHAI's core activities include planning, constructing, and upgrading highways and expressways. It manages toll roads, undertakes expressway projects, and raises funds through asset monetization and government support, while also deploying modern infrastructure solutions to enhance road safety, reduce travel time, and improve logistics efficiency. The authority benefits from continuous financial support, including grants and budgetary allocations, along with diversified funding sources such as investor partnerships. Over the years, NHAI has introduced innovative approaches to infrastructure development, sustaining steady progress in expanding and improving India's national highway network.

Coupon ladder

Payment schedule of interest and principal

Apr '16Coupon

₹17

Apr '17Coupon

₹76

Apr '18Coupon

₹76

Apr '19Coupon

₹76

Apr '20Coupon

₹76

Apr '21Coupon

₹76

Apr '22Coupon

₹76

Apr '23Coupon

₹76

Apr '24Coupon

₹76

Apr '25Coupon

₹76

Apr '26Coupon

₹76

Apr '27Coupon

₹76

Apr '28Coupon

₹76

Apr '29Coupon

₹76

Apr '30Coupon

₹76

Jan '31Coupon + Principal

₹1,059

Bond Trading History

Trading history isn’t available for this instrument yet.

Data as of 16-Sep-2026

How to invest in this bond

National Highways Authority of India

Login to your existing Equity broker (Eg. Zerodha, ICICI Direct) and purchase bonds from BSE/NSE just like equity using the following steps:

  1. Search for this specific bond. Copy its ISIN and enter in the Search bar of your broker app.INE906B07EJ8If that does not work, try its BSE or NSE scrip code:BSE935584NSE12003
  2. Enter the quantity required.
  3. Enter following Price:₹1,109.11This is the Price at which you will earn Fixed Returns (Yield) of 5.61% if you hold the bond till maturity. If you enter a different price, then your returns will differ.
  4. Fund your wallet and place the order.
  5. Once the transaction is successful, bonds will get credited to your demat account next day (T+1) like equities.
  6. Interest and Principal will get directly deposited to your bank account linked with your Demat.